Shocking but true, a large majority of drivers kept their coverage with the same car insurance company for more than four years, and roughly 40% of drivers have never shopped around. Drivers in the United States could cut their rates by nearly $850 a year by just comparing rate quotes, but they assume it’s a waste of time to find lower-cost rates by getting comparison quotes.
To save the most money, the best way to find low-cost Volvo V60 insurance is to compare prices once a year from companies in Indianapolis. Rate comparisons can be done by following these guidelines.
- Read and learn about how insurance companies determine prices and the changes you can make to keep rates in check. Many rating factors that drive up the price such as tickets, at-fault accidents, and a negative credit score can be rectified by making minor driving habit or lifestyle changes. This article gives instructions to get better rates and get additional discounts.
- Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like GEICO or Allstate, while independent agencies can provide price quotes for a wide range of insurance providers.
- Compare the new rate quotes to the premium of your current policy and determine if cheaper V60 coverage is available. If you find better rates, make sure coverage is continuous and does not lapse.
- Provide written notification to your current company to cancel your current auto insurance policy and submit any necessary down payment along with the completed application to your new agent or company. As soon as coverage is bound, put the certificate of insurance in an easily accessible location in your vehicle.
One piece of advice is that you use identical deductibles and limits on each price quote and and to get rate quotes from every company you can. Doing this helps ensure a fair rate comparison and a complete selection of prices.
Affordable Volvo V60 insurance quotes in Indianapolis
Insurance can be prohibitively expensive, but you might already qualify for some discounts that you may not even know about. Certain discounts will be applied when you complete an application, but once in a while a discount must be manually applied prior to receiving the credit. If they aren’t giving you every credit possible, you may be paying too high a price.
- Discount for Life Insurance – If the company offers life insurance, you could get a small discount if you purchase some life insurance in addition to your auto policy.
- Theft Deterrent System – Cars equipped with anti-theft or alarm systems have a lower chance of being stolen and can earn a small discount on your policy.
- Bundle and Save – When you have multiple policies and insure them with the same company you may save up to 20% and get you inexpensive Volvo V60 insurance in Indianapolis.
- Multi-car Discount – Having several vehicles on one policy qualifies for this discount.
- Driving Data Discount – Drivers who elect to allow their car insurance company to monitor driving habits by using a telematics device like Allstate’s Drivewise might see lower rates if they are good drivers.
- Renewal Discounts – A few companies offer discounts for signing up prior to your current V60 insurance policy expiring. It can save you around 10%.
- Seat Belt Discounts – Forcing all vehicle occupants to use a seat belt could save 15% off PIP or medical payments premium.
Don’t be surprised that most credits do not apply to the overall cost of the policy. Some only apply to individual premiums such as physical damage coverage or medical payments. So when it seems like it’s possible to get free car insurance, companies wouldn’t make money that way. Any amount of discount will lower your premiums.
A list of car insurance companies and their offered discounts can be read below.
- Progressive offers premium reductions for multi-policy, homeowner, online signing, good student, online quote discount, and continuous coverage.
- SAFECO includes discounts for anti-lock brakes, safe driver, accident prevention training, bundle discounts, drive less, and teen safe driver.
- American Family has savings for mySafetyValet, multi-vehicle, early bird, good student, bundled insurance, and air bags.
- MetLife offers discounts for accident-free, multi-policy, defensive driver, good student, good driver, claim-free
- GEICO may include discounts for defensive driver, multi-vehicle, good student, air bags, and multi-policy.
- The Hartford offers discounts including air bag, good student, driver training, anti-theft, defensive driver, vehicle fuel type, and bundle.
When getting a coverage quote, ask every prospective company which discounts they offer. A few discounts may not apply in every state. If you would like to view providers that have a full spectrum of discounts in Indiana, click here.
The following companies are our best choices to provide price comparisons in Indiana. If the list has multiple companies, we suggest you visit as many as you can to find the lowest auto insurance rates.
Find Lower-cost Car Insurance with These Tips
Lots of factors are taken into consideration when you get your auto insurance bill. Some of the criteria are obvious such as your driving record, although some other factors are not quite as obvious such as your marital status or your financial responsibility. The best way to find cheaper car insurance is to take a look at the different types of things that come into play when calculating the level of your policy premiums. If you know what impacts premium levels, this enables informed choices that can help you get big savings.
The list below includes just a few of the factors utilized by car insurance companies to help set premiums.
Increase physical damage deductibles to save – The deductibles are the amount of money you are required to spend before a claim is paid by your company. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of covered claims could be a windshield broken by a bird, fire damage, and damage from wind. The higher the amount the insured is willing to pay, the less your company will charge you for insurance.
Don’t skimp on liability – The liability coverage on your policy will protect you when a jury decides you are liable for causing personal injury or damage in an accident. Liability insurance provides legal defense coverage which can be incredibly expensive. Liability is cheap compared to other policy coverages, so drivers should carry high limits.
Additional coverages that may be costing you – Insurance policies have a lot of extra coverages that sound like a good idea at the time when buying car insurance. Coverages like rental car coverage, high-cost glass coverage, and extra life insurance coverage may be wasting your money. These coverages may sound good when talking to your agent, but now you might not need them so remove them and pocket the money.
See if your company offers a multi-policy discount – The majority of insurers provide a discount to policyholders that purchase more than one policy. It’s known as a multi-policy discount. Discounts can be ten or even up to twenty percent in some cases. Even with this discount, you may still want to compare other company rates to guarantee you are still saving the most.
Pay more by driving carelessly – Attentive drivers receive lower rates than their less careful counterparts. Just one speeding ticket can increase the cost of insurance by as much as twenty percent. Drivers unfortunate enough to have license-revoking tickets such as DUI or willful reckless driving may be required to file a SR-22 to the state department of motor vehicles in order to prevent a license revocation.
Volvo V60 insurance loss statistics – Auto insurance companies use past loss statistics for each vehicle to help calculate premium costs. Vehicles that statistically have higher losses will cost more to insure.
The table below illustrates the loss history for Volvo V60 vehicles. For each policy coverage, the claim amount for all vehicles compiled together is set at 100. Values that are under 100 suggest a better than average loss history, while values that are above 100 indicate frequent claims or statistically larger claims.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo V60 2WD||68||53|
|Volvo V60 4WD||136||75|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance agents can find coverage gaps
Some consumers would prefer to go talk to an agent and that is a smart decision Agents can help you build your policy and help you file claims. One of the benefits of price shopping on the web is the fact that you can find the lowest rates and still have a local agent.
To help locate an agent, after submitting this quick form, your insurance data gets sent to local insurance agents that give free quotes and help you find cheaper coverage. It makes it easy because there is no need to leave your house since rate quotes are delivered to you directly. In the event you want to quote rates from a specific insurance company, you would need to visit that company’s website and give them your coverage information.
Deciding on a provider requires you to look at more than just a cheap price. Ask your prospective agent these questions:
- How long have they worked with personal auto insurance coverage?
- Is the agent CPCU or CIC certified?
- Do they carry Errors and Omissions coverage?
- Do they have any clout with companies to ensure a fair claim settlement?
- Is assistance available after office hours?
- Do they have cheaper tiers of coverage?
- If you raise deductibles, how much can you save?
Exclusive and independent Indianapolis auto insurance agents
If you want to use a reputable insurance agent or broker, it can be helpful to understand the types of agencies and how they can service your needs differently. Auto insurance agents are considered either independent agents or exclusive agents depending on their employer. Both insure your vehicles properly, but it is a good idea to know why they differ since it could factor into the selection process.
Exclusive Insurance Agents
Exclusive agents can usually just insure with one company and examples are American Family, State Farm, and Allstate. Exclusive agents cannot provide prices from multiple companies so they have to upsell other benefits. Exclusive insurance agents receive a lot of sales training on sales techniques and that can be a competitive advantage.
Below is a short list of exclusive insurance agents in Indianapolis who can help you get price quote information.
Agents in the independent channel do not have single company limitations and that is an advantage because they can write policies amongst many companies enabling the ability to shop coverage around. If premiums increase, the agent simply finds a different carrier and you can keep the same agent.
If you are trying to find cheaper rates, you should always include rate quotes from several independent agencies so that you can do a thorough price comparison.
Shown below are Indianapolis independent agencies willing to provide price quotes.
Why you need to buy car insurance
Despite the high cost, paying for car insurance is required in Indiana but also provides important benefits.
- The majority of states have minimum liability requirements which means the state requires specific minimum amounts of liability protection in order to drive the car. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your Volvo V60 with a loan, it’s most likely the lender will require that you buy full coverage to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank will be required to insure your Volvo at a much higher premium rate and require you to reimburse them the higher price.
- Insurance protects your vehicle and your assets. It will also reimburse you for medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance will also pay for a defense attorney if you are sued as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of having car insurance more than cancel out the cost, especially when you need to use it. As of last year, the average driver in Indiana is wasting up to $750 every year so it’s very important to do a rate comparison every year to help ensure money is not being wasted.
You can find cheap coverage
When shopping online for car insurance, it’s not a good idea to sacrifice coverage to reduce premiums. Too many times, an accident victim reduced physical damage coverage only to find out that the small savings ended up costing them much more. The aim is to purchase a proper amount of coverage at the lowest possible cost, but do not skimp to save money.
In this article, we covered a lot of information how to save on Volvo V60 insurance in Indianapolis. It’s most important to understand that the more quotes you get, the more likely it is that you will get a better rate. Consumers could even find that the best price on car insurance is with some of the smallest insurance companies. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm, GEICO and Nationwide.
More detailed car insurance information is located by following these links:
- Vehicle Safety Ratings (iihs.org)
- What Car Insurance is Cheapest for First-time Drivers in Indianapolis? (FAQ)
- How Much are Indianapolis Auto Insurance Rates for a 20 Year Old Male? (FAQ)
- What Auto Insurance is Cheapest for Government Employees in Indianapolis? (FAQ)
- Your Car has been Stolen: Now What? (Allstate)
- Teen Driver Statistics (Insurance Information Institute)